06. November 2023
By Jörg Sabitzer, Accountable Manager, AXIS Aviation Austria
Owning a private jet is a serious business investment that makes it possible to fly anywhere, at any time. However, unless you take the time to select the right aircraft management company, owning a business aircraft can be far from seamless.
Choosing an aircraft management team that fully meets your needs is a crucial decision that ensures jet owners gain maximum enjoyment and financial benefit from a hugely valuable asset. Making the wrong decision could mean receiving unclear information and facing unforeseen costs.
A thorough examination of a potential aircraft management company can offer significant reassurance, ensuring owners gain a high-level of service that saves time and offers total transparency.
It’s a decision that cannot be rushed, and the choice will vary depending on individual circumstances and requirements. New aircraft owners must familiarize themselves with the wide variety of available options to ensure an informed decision can be made.
Here are four key qualities that aircraft owners should look for before selecting their aircraft management company.
Perhaps the most fundamental requirement for an aircraft owner is transparency, which is made possible through clear and open communication between the customer and management company. Transparency is pivotal for creating a trusted working relationship, which is the foundation for any successful partnership.
To build total trust, the management company must honestly describe their offering to ensure the owner knows exactly what they will receive in terms of service, potential revenue and costs. As well as this, open communication must be central to how the management company operates, which means making all data available in real time, ensuring owners, managers, and flight crew members gain access to flight plans, scheduling, costs, maintenance intervals and aircraft availability upon request. With accurate data at their fingertips, customers can make fully informed and sound decisions on their aircraft asset. It’s also important to select a technology-enabled aircraft management company, which will be set up to offer full access to data and real-time transparency.
Gaining insight into an aircraft management company’s team is an important part of the selection process. Working with an experienced team can not only reassure owners that they will receive expert knowledge and a thorough understanding of the safety and efficiency of their aircraft operations, but it will also enable seamless service delivery. Potential new customers may wish to ask about the reputation of the senior team and the corporate culture they have created, as well as the core team managing aircraft day-to-day.
Equally, the management company needs the right balance of senior executives and digital natives offering deep sector knowledge. Working with a team that is comfortable using digital tools, where data collection and analysis is needed to enable innovation, will maximise results. Understanding how this team operates – including its responsiveness – is vital.
Quality of reporting
Comprehensive and accurate reporting is a testament to aircraft management. The right aircraft management company should empower owners and managers by providing them with a clear picture of their aircraft’s financial performance, including real-time expenses and budget tracking. Owners making their aircraft available for chartering should be able to readily review the performance of their aircraft from an asset point of view, receiving reports that show revenues and costs, enabling them to take informed decisions based on this data.
Finally, being certain that your aircraft management company can deliver anywhere in the world is key. Providing full value means having the accreditation and on-the-ground presence to deliver an effective service in all the destinations where owners and managers might make use of their aircraft. Also having knowledge of international regulations and customs procedures.
By considering all of these areas, it will be possible to confidently select an aircraft management company, safe in the knowledge that it will provide a transparent and high-quality service globally.